President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei on Tuesday urged the need for expediting the execution of transit projects between Iran and Russia.
Shafei made the remarks in a meeting with his Russian counterpart Sergey Katyrin which was held on the sidelines of an Iran-Russia Business Forum in the Iranian capital.
Hailing the exemplary relations between Iran and Russia, he said that Tehran-Moscow cooperation can also affect regional economy.
He referred to a preferential trade agreement between Iran and the Eurasian Economic Union (EAEU) possibly turning into a free trade agreement in the near future and said that such an FTA deal would help boost the level of relations between both sides.
The Iran Chamber of Commerce president also underlined the significance of launching the North-South Transit Corridor in enhancement of transit ties between Iran and Russia, urging the need for both governments to make investments in ports and railway infrastructure of this strategic corridor.
Noting that both the Iranian and Russian governments have plans for increasing the shipping capacity in the Caspian Sea and making use of Ro-Ro ships in the waterway, Shafei expressed hope that these plans will yield fruit as soon as possible.
He also said that forming a joint ruble-rial fund which has been earlier discussed by Iran and Russia, will facilitate trade between the two countries.
The president of the Chamber of Commerce and Industry of the Russian Federation, for his part, said that Iran and Russia are key trade allies.
Katyrin referred to the extension of an agreement between Tehran and Moscow on free trade zones for another three years and said that this agreement would not be restricted to Iran and Russia and will also include all the five member states of the Eurasian Economic Union.
With the imposition of international restrictions on Russia, transportation has gained importance for Russia more than ever, Katyrin said, adding the Moscow is now focused on the development of the North-South Transit Corridor.
He said that launching trade offices in Iran and Russia is of prime significance and should be pursued by the chambers of commerce of both countries.